Solstice operated high-end fruit and vegetable distribution to prestigious London restaurants and hotels, sourcing fresh produce from the UK and Europe.
Hamsard 3471 is the newly formed subsidiary of Reynolds, the fresh fruit and vegetable supplier. The sale transaction completed on February 15 2018, but no financial details were disclosed on the deal.
The sale of the business and assets of Solstice was completed by Duff & Phelps, with mds Benjamin Wiles and Paul Williams appointed joint administrators on February 15 2018.
Wiles said: “We are pleased to announce the successful sale of the Solstice business to Reynolds, which has facilitated business continuity and has preserved the jobs of its entire workforce. We expect the business to go from strength to strength under its new ownership.”
Tony Reynolds, md and owner of Reynolds, said: “Both businesses share similar family values of excellent quality and service, but have their own, unique and enviable customer base. I am incredibly excited about the opportunities that lie ahead and would like to welcome the team at Solstice to the Reynolds family.”
Reynolds distributes fresh fruit, vegetables, dairy and cheese to a variety of industries, including the hospitality sector, caterers, schools and universities, healthcare establishments and care homes.
Its headquarters are on the outskirts of London, in Waltham Cross, and the company has a range of depots around the UK, managing more than 3,000 orders each day.
Reynolds said it tried to buy British whenever possible and got involved in the food chain, from seed planting through to transportation and delivery.
Solstice was established in 1997, with an ethos to source, where possible, from the UK.